Morning Briefing 20 Mar 2023: Euro Rebounds on UBS Purchase

DCFX · 20 Mar 2023 16.3K Views
Asian stocks fell, while US index futures rose as the Swiss government engineered a Credit Suisse take-over by UBS, marking the latest attempt by governments around the world to quell a crisis in the banking sector.

Gold prices soared as the banking crisis rattled markets in gold's biggest weekly gain in four months.
 
Calendar:


EURUSD

Euro rebound after UBS purchase on Credit Suisse may temporarily ease fears of a banking crisis.

Trend →

Support : 1.0635

Resistance : 1.0750

 

GBPUSD

Sterling rebounded to near a 5-week high as fears over the banking crisis eased.

Trend  →

Support 1.2130

Resistance 1.2270


AUDUSD

Australian dollar is rising on Silicon Valley Bank issues, weakening USD. There is, however, no significant news to support the movement of the Australian dollar.

Trend ↓

Support : 0.6635

Resistance : 0.6780

USDJPY

Yen weakened due to easing fears of a banking crisis, triggering investors to sell safe haven assets.

Trend  ↓

Support 131.30

Resistance 133.30



XAUUSD

Gold fell from its highest level in 11 months due to profit taking after news of the purchase of CS by UBS eased the negative sentiment in the market.

Trend ↑ 

Support : 1950.00

Resistance : 2000.00



Crude Oil (WTI)

Oil prices rose slightly from their lowest level since December 2021 amid fears the banking crisis will cause a global economic slowdown.

Trend  ↓

Support 62.00

Resistance 70.00



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